Core Points - The Gross Law Firm has issued a notice to shareholders of Fly-E Group, Inc. (NASDAQ: FLYE) regarding a class action lawsuit related to misleading statements about the safety of Fly-E's lithium batteries, which negatively impacted E-vehicle sales revenue [1] - The class period for the lawsuit is from July 15, 2025, to August 14, 2025, with allegations that the company concealed material adverse facts while making overly positive statements [1] - On August 14, 2025, Fly-E reported a 32% decrease in net revenues, attributed to a decline in total units sold and recent lithium-battery accidents, leading to a dramatic stock price drop from $7.76 to $1.00 per share, a decline of approximately 87% in one day [1] Summary by Sections Class Action Details - Shareholders who purchased shares during the specified class period are encouraged to contact the Gross Law Firm for potential lead plaintiff appointment [1][2] - The deadline for shareholders to register for the class action is November 10, 2025, and there is no cost or obligation to participate [2] Company Performance - Fly-E's revenue projections were derailed due to increasing operating expenses and declining sales, despite previous optimistic forecasts [1] - The company’s inability to file Form 10-Q on time revealed significant financial distress, impacting investor confidence [1] Legal Representation - The Gross Law Firm aims to protect investors' rights and seeks recovery for losses incurred due to misleading statements by companies [3]
The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of November 10, 2025 in Fly-E Lawsuit - FLYE